Latest data from the Hong Kong Stock Exchange reveals that on November 5, a shareholder of SYNAGISTICS (02562) deposited shares with Morgan Stanley Hong Kong Securities, with a market value of HK$1.291 billion, accounting for 32.27% of the total holdings.

Previously, SYNAGISTICS announced that its subsidiary plans to issue convertible bonds with a principal amount of $35 million. The initial conversion price is set at HK$11.96, representing a 7.7% premium over the previous trading day's closing price of HK$11.11. The net proceeds, approximately HK$260 million, will be allocated toward investments in gold, gold-backed, and gold-related products.

Public records indicate that SYNAGISTICS, headquartered in Singapore, operates as a Southeast Asian e-commerce solutions platform under Alibaba's umbrella.